Basmati rice exporter Amir Chand sets IPO price band at ₹201-212

Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd has fixed a price band of Rs 201-212 per share for its upcoming Initial Public Offering (IPO), valuing the company at Rs 2,200 crore.

In a public announcement on Thursday, the company said its ₹440 crore maiden public offering (IPO) will open for subscription on March 24 and conclude on March 27. Bidding for investor bidding is scheduled to take place on March 23.

The Haryana-based company's proposed IPO will comprise entirely a fresh issue of equity shares, with no Offer For Sale (OFS) component.

The company, which is known for its "Aeroplane" basmati rice brand, plans to utilise the net proceeds from the issue to fund its working capital requirements and for general corporate purposes.

The Securities and Exchange Board of India (Sebi) granted its approval to the IPO in October 2025.

The offer size has been reduced to Rs 440 crore, compared with the Rs 550 crore issue size proposed in the Draft Red Herring Prospectus (DRHP) filed in June 2025.

Ahead of the public issue, the company raised Rs 13 crore in a pre-IPO round by allotting 7.55 lakh shares at Rs 172 per share.

Amir Chand Jagdish Kumar (Exports) Ltd is a processor and exporter of basmati rice in India. The company markets its products under the flagship brand "Aeroplane". It competes with the likes of other large basmati rice companies, including KRBL Ltd, LT Foods and Sarveshwar Foods, and various other unorganised processors.

Apart from its core basmati rice business, the company has diversified into FMCG products, offering staples and other essential kitchen items.

For the nine-month period ended December 31, 2024, the company reported revenue from operations of Rs 1,421.3 crore and a profit after tax of Rs 48.77 crore.

The company stated that half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per for non-institutional investors.

The basmati rice exporter will make its stock market debut on April 2.

Published on March 19, 2026